Industry representatives hail budget for its focus on key areas

Industry leaders in Andhra Pradesh praise Union Budget for financial assistance to Amaravati and focus on industrial development.

Representatives of the industry in Andhra Pradesh have hailed the Union Budget, saying that the substantial financial assistance for Amaravati and the focused investments in industrial and infrastructural development are commendable.

The industry leaders pointed out that besides the financial assistance of ₹15,000 crore for Amaravati, the Union Finance Minister Nirmala Sitharaman had promised allocation of more funds for the capital development based on future requirements.

“This budget not only addresses the immediate needs of the State but also lays a strong foundation for its future growth,” said Chairman of the Andhra Pradesh chapter of the Confederation of Indian Industry (CII) V. Murali Krishna, addressing the media after the budget session.

Referring to the key announcements, the CII members expressed happiness that critical issues for Andhra Pradesh like the Polavaram project, special financial packages for development of backward areas in Rayalaseema, north Andhra Pradesh and Prakasam district, industrial incentives as stipulated in the AP Reorganisation Act, 2014, industrial corridor development and allocation of funds for infrastructure development were addressed in the budget.

The members reaffirmed their support in driving sustainable development across all regions of the State.

Past chairmen of the confederation G.S. Siva Kumar, D. Ramakrishna and G. Vijay Naidu, chairman of CII Vijayawada zone D.V. Ravindranath, vice-chairperson of Vijayawada zone N. Nagalakshmi and others were present.

President of Andhra Pradesh Chambers of Commerce and Industry Federation (APCCIF) Potluri Bhaskara Rao said the government was focused on important areas such as agriculture and allied sector, employment generation, skilling, infrastructure, education and health.